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SCC COMMENT ON SEPTEMBER’S INFLATION FIGURE EFFECT ON BUSINESS TAX BURDEN

[ 15-10-2013 ]

SCC COMMENT ON SEPTEMBER’S INFLATION FIGURE EFFECT ON BUSINESS TAX BURDEN

 

Commenting on the September 2013 inflation figures released today, Liz Cameron, Chief Executive of Scottish Chambers of Commerce said:

 

The September inflation figures are of particular importance to business, because it is this month’s RPI figure that the Government uses to calculate the annualised increase in business rates.  The figures released today mean that business rates for Scottish firms will rise by the RPI of 3.2% next April.

“Current rates bills are based on the notional rental values of properties at the peak of the market in 2008 and have risen every year since the revaluation in 2010.  It is a policy decision of the Scottish Government to continue to raise business rates, even though these notional rental values bear such little relation to current market realities.

“Over the next three years, the Scottish Government is expecting to raise an additional £400 million from Scottish businesses in rates.  At a time we need to be encouraging businesses to invest to strengthen what is still a fragile recovery, it’s time to think again about increasing the rate of this tax on business year after year.

“The Scottish Government have it within their power to take this action to make a real difference to businesses up and down Scotland.  They should be using their powers positively – and they should do so quickly.

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